Stock market news today: Dow swings lower as debt talks stall

Treasury Secretary Janet Yellen has warned the country could run out of cash to pay bills by early June.

Jason Mountford, market trend analyst at Q.ai, told Insider in a note this week he doesn't foresee the US defaulting on its debt. Such an unprecedented event would"cause chaos on the markets," he said. Stocks"would sell off dramatically, and it wouldn't be beyond the realms of possibility to see the biggest one-day fall in history," he said. Meanwhile,"yields would skyrocket, as US debt would all of a sudden be perceived as much higher risk than it is currently." said with credit conditions tightening, the central bank's policy rate"may not need to rise as much as it would have otherwise to achieve our goals.

The prevailing Wall Street view is that the Fed will pause its rate-tightening efforts and cut rates at least twice during the second half of 2023, Sam Stovall, chief investment strategist at CFRA Research, told Insider. "However, as a result of still-sticky inflation, concern that the Fed is not quite done has been growing, as well as the possibility that the Fed won't start an easing cycle before 2024."Here's what else is happening today:

Belgique Dernières Nouvelles, Belgique Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

Stock market news today: Dow jumps as debt ceiling talks progressDow surges 400 points as Biden and lawmakers inch closer to a debt ceiling deal
La source: BusinessInsider - 🏆 729. / 51 Lire la suite »

Walmart’s stock rally and Cisco’s stock selloff after earnings are a net 20-point positive for the Dow’s priceThe Dow Jones Industrial Average is getting a net 20-point boost Thursday from its components that reported earnings, with Walmart Inc.’s stock-price gain...
La source: MarketWatch - 🏆 3. / 97 Lire la suite »

U.S. stocks open higher, with the Dow on track for a weekly gainU.S. stocks opened higher Friday, with all three major benchmarks heading for weekly gains, as investors weigh fresh remarks from New York Federal Reserve...
La source: MarketWatch - 🏆 3. / 97 Lire la suite »

Snowflake stock rises after report says company is in talks to buy AI search startupShares of Snowflake Inc. were rising 2% in morning trading Thursday after The Information reported that the software company was in advanced talks to acquire...
La source: MarketWatch - 🏆 3. / 97 Lire la suite »